Deal Insight
Delek acquires Chevron's UK North Sea assets for US$2 billion
Report summary
Chevron sells its UK North Sea business to Delek Group subsidiary, Ithaca Energy, for US$2 billion. The deal is transformational for Ithaca, which becomes the UK's fifth-largest producer. Clair is now Chevron's only UK asset as the US supermajor continues to retrench to core positions.
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- Captain (85%)
- Alba (23.37%)
- Erskine (50%)
- Britannia (32.38%)
- Britannia Satellites - Brodgar (6.25%), Callanish (16.5%) and Enochdhu (50%)
- Alder (73.68%)
- Elgin / Franklin (3.90%)
- Jade (19.93%)
- Deal analysis
-
Upsides and risks
- Upsides
- Risks
-
Strategic rationale
- Chevron
- Delek Group
- Oil & gas pricing and assumptions
Tables and charts
This report includes 6 images and tables including:
- Executive summary: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Upstream assets: Table 1
What's included
This report contains:
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